an excepcionally simple theory about the (american) crisis

A rather simplistic point of view from myself, some will say; but the thing is these guys (americans) "have been playing russian roulette with 5 bullets" (Ben Stein dix it, and I agree). The situation is cahotic, AIG just requested another bailout program from the white house. In fact "U.S. government seized control of American International Group Inc. -- one of the world's biggest insurers -- in an $85 billion deal that signaled the intensity of its concerns about the danger a collapse could pose to the financial system."
Free market sometimes leads to this sort of situations. In fact, US credit agencies promoted dangerous behaviours all the time. At least just until now. Don't know if they plan to change their policy, though. "Credit history" is key term here. It's something that everyone needs to work for. Something you build in time. Kind of like a register for your credit. As much as you can place yourself in debt, you're a good customer for the bank; thus, they'll keep on lending you money and even increase your credit. However, if you always pay your credit within 30 days, you're considered a bad customer, hence they'll not increase your credit limit and it will be difficult for you to get a loan for a house or a car. Go figure!
I still have my credit history clean. I guess I'll just ask for a credit card and start shopping :)